Home MOREBUSINESS & ECONOMY Complete EU ban on Russian oil imports unlikely in the short term

Complete EU ban on Russian oil imports unlikely in the short term

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The EU’s sanctions ban on Russian oil was not even officially up for discussion at this week’s summit of leaders, found its way onto the agenda. A senior official said the European Council would now try to reach a “political agreement” on the issue, the BBC reports.

The hope will be that such an agreement can hand the 27 member state ambassadors enough momentum to get over the remaining technical hurdles.

All eyes will now be on Hungary. Budapest has been vocally resisting the embargo for weeks and its Prime Minister, Viktor Orban, made it plain he doesn’t think the issue should be discussed at today’s summit.

European Commission President Ursula von der Leyen says the EU is “not there yet” with regards to a potential ban on Russian oil imports.

“It’s never been easy. It’s the same now with the sixth package,” she told reporters as she arrived ahead of a summit of the 27 EU leaders.

“It is very important to have fairness for all, we haven’t found a solution for that yet.

“My expectations are low that it will be solved in the next 48 hours. But I’m confident that thereafter there will be a possibility,” she said.

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